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<br /> 9.G�ots�s tar Acce4entloo of Oesl. �7V��„O�3�O
<br /> (e)Usla�il. Lendec m�y.except es limited by regulations issued by the Secretary in thc case af pAyment detaulis, reQuirc
<br /> immediate payment in full oP all sums sccured by thi�Sscurity Insetument if:
<br /> � (i)Borcower defautts by failin�to pav in fuU any monthly psyme�lt reQuieed by this Secutity Instrt�mcnt ptiot ta or on
<br /> the duo d�te oi the next monthly paym�nt, or
<br /> {ii)8onower defau[ts by failin�,for o period of chirty days.to petiorm any other abligations containcd in thls Sccurity
<br /> � Instrument.
<br /> (b)Sde Wit�wt Cndit Appr+ovN.l,ender ehall,if pe�mittod by apglica6k!aw ani with the prior�praval af the Socrctiry.roQuire
<br /> �P�Yn�ie full of all tLe sumg eecured by thi�Security In�trument if:
<br /> (i)All ar pact of the ProQercy is otherwlse transferred(ather than by devise or descent)by the Borrower,and
<br /> (ii)'il�e Piropetty is not occupied by the purchaser at Qraixee as his a h�r primary or seoondary residenoe.or the purehsser or
<br /> gr�ee dav so aavpy the P�operty but lils or her crcd'N ha�nat been approved in aeca�drnoe with the roquira�nts of�he Sactttary.
<br /> (c)No W�er.If circumstances occur th�t would permit Lender to require immediate pAyme�t i�full,but Lender daa nat
<br /> require such paymeats. Lender does aot wa9ve ite ri�hts with respect to subsequent events.
<br /> (�)Repl�Nor ot Hl1D 9ecretaq.Ia m�ny circumsttn�es regul�tiens issued by the Secretary will limit I.ender's�ights, in
<br /> the ca�e of psyment defaults.to require immedlate payment in fuU and�'oreclose lf not paid.Thia Security Instrument does
<br /> iaot authorize acceleration or forectosure if not permitted by regulations uf the Secretary.
<br /> � 1�. RiMale�eN. Borrower has a right to be reinstated if Lender has required immediate payment in fuU because of
<br /> Borrower's fa�lure to pay an amount due under the Nate or thls Security Instrument.This dght applies even after forectosure
<br /> pra.�eedin�s ue instituted. To reinstate the Security I�strument,Borrower sh�ll tender in a lump sum all amounts required to
<br /> brin�Borcower's secount current including,to the e�ctent they are obligxtions of Borrower under this Security Instrument,
<br /> foreclaaure costs �nd reason�ble and customary attorney's foa and expenses properly associated with the foreclos�re
<br /> ' ptoceedlns.Upon reinsutement by Borrower,this Security Instrument�nd the obligatlons that it secures shall remain in eff�ct as
<br /> if Lender had not requlred immediate payment in full.However,Lender is not required to permit reinstatement i6:(i)Lender has
<br /> accepted reinstatement atter the commencement of foreclosnre proceedings within two years immediately preceding the
<br /> • commencement of a cunent forcelosure proceeding, (ii) reinstatement wiU prectude foreclasnre on different gounds in the
<br /> '- fnture,or(iii)reinsatement will adversely affect the priority of the Uen created by this Securtty Instrument.
<br /> il. aorrower Not Reka+ed; Forbar��ce By Lendcr Not •Wdver. Extension of the time of payment or modification of
<br /> amortization of the sums stcured by this Secudty Instrument granted by Lender to any successor ia interest of Borrower shall not
<br /> i operate to releue the liability of the ori�nal Bonower or Bonower's succasot in interest. Lender shatt not be requirtd to ,
<br /> commence proaedings against any successor in interest or refuse to eatend time for payment or otherwise modify amortization
<br /> � of the sums secured by this Security Instrament by reason of s;ny demAnd made by the original Borrower or Borrower's .
<br /> ' succe.ssors in interest.Any forbearance by Lender in exercisIng�y right or remedy shall not be a waiver of or preclude the , ,.,.
<br /> • , exerclse of any right or remedy. �'i'.�;`
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<br /> � 32.Sac�non�i i��s 3nM�8;Joiai�r�:ae�e.�i��:iii ; ^,0•�3 ae:s.�'8s:.:.ar:a�st�znd eesn=nts of this ��r_ty ,;,�:�~''�.�
<br /> iaswment shW bind and benefit the succasors and assigns of Lender and Borrower.subject to the pro isions of paragrsph 9.b. ��':�"i�
<br /> • Horrower's coventnts and agraments shall be joint and several.Any Borrower who w-signs this Security Instrument but does -
<br /> , no�execute tife Ivote:(a)is co-signing c1�[s�ecur[ty instrument onry co mongage.grant an�convey tnac�SOrrower's incerest in -. _ ._
<br /> the Property under the terms af this Security Instrument;(b)is not personally obligated to pay the sums secured by this Security • --
<br /> Instrument; and (c) agtees that Lender and any other Borrower ma ��`''�-
<br /> y agree to eatend, modify, forbear or make any A
<br /> aecommoditions with regxrd to the term of this Security Instrument or the Note without that Bonower's cunsent. .
<br /> 13.Nodees.My notia to Bonower provided for in chis Security tnstrument shall be given by delivering it or by mailir�g it by `
<br /> flrst class mail unless applicable law requires ux of another method_The notice shall be d'uected to the Propeny AddresG or.any
<br /> � ather address Bonovrer designates by notice to Lender.Any notice to Lender shall be given by first class mail to Lender's address
<br /> ' stated herein or any address Leader daignates by notice eo Borrower.My noticc provided for in chis Securet>Instrument shall
<br /> be damed to hive ban gTf•en to Bonower or Lender when given as provided'en this paragraph.
<br /> , I�.Go�e�tiK I.�w;Se�erabWiy.This Security Instrumeiu shall be governed by Federal law and the taw of the jurisdiction in •
<br /> :.� whieh the Property is located.in the everr,�that any provision or ctause of this Security Instrument or the Nate conflicts with ap- �
<br /> plicable law. such conftict shall not affect other provisions of this Security Instrument or the Note which can be given etfect
<br /> without the conflicting provision. To this end the provisions of this Security Instrument and tho Note are declared to be ,��'
<br /> severable. '
<br /> : {:;�'.
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<br /> IS.Bono�er's Copy. Bonower shall be given one conformed copy of this Security Instrument.
<br /> , 16.A�meet of Reats.Borrower unconditionally assigns and c ransfers to Lender all the tents and revenues of the Property. .
<br /> � Bonower suthorizes Lendet or Lender's agents to ce�Ilect the rents and revenues and hereby directs each tenant of the Property
<br /> , to pay the rents to Lenderor Lender's agents.However.prior to Lender's notice to Borrower of Bonower's breach of azey cove•
<br /> � nant or agreement in the Security Instrument,Bonower shall collect and receive all rents and revenues of the Prapeny as trustee
<br /> ; for the benefit of Lendet and Borrower.This assignment of rents constitutes an absolute assignment and not an auignmen�for
<br /> additional security only.
<br /> , � if Lender gives notice of breach to Bonower:(a)atf rents received by 8orrower shall be held by Horrower as trustee for benef it
<br /> of Lender only,to be appiied to the sums secureQ�}tl;e Security Instrument;(b)Lender shall be entitled co collect and receive all
<br /> of tht ceuis of the Prop�ny;and{e)tach tenanL of ti:e Property shall pay all renis dut and unpai�3 to Lender or Lender's agent
<br /> - - ' on Lender's written demand to ihe tenant.
<br /> Borrowet has not executed any prior assignment of the rents and has�ot and will noc perCorm any act that would �revent
<br /> Lender from ezercising its rights under this paragra�h 16.
<br /> I.ender shall not be required to enter upon,take controf af or maintain the Property before or after giving notice of breach to
<br /> Bonower.However,Lender or a judicialiy appninted receiver may do so at any time there is a breach.Any applica:ion of rents ---=T=-
<br /> shyll noi curc or waivr any ueiault or invati�,ate any othe�rigt►t ot remcdy a.`Lcndrr.This assignmeni oi r_nts af she pso�;rty : -
<br /> shall terminate when tht debt secured by the Security Instrument is paid in full.
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